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UK Shared Prosperity Fund

In April 2022 the UK government published guidance on the UK Shared Prosperity Fund (UKSPF), which is a central pillar of their levelling up agenda.

Funding of £2.5 billion has been put in place across the UK over three years to March 2025 to provide a mix of capital and revenue funding for projects that meet the Fund's three investment priorities:

  • Communities and place
  • Support for local businesses
  • People and skills

People, businesses and communities will benefit from a £13.8 million funding allocation to North Lanarkshire Council from the UK Government through the UK Shared Prosperity Fund.

North Lanarkshire has received an allocation of £13,871,047 of which £11,475,645 is core UKSPF funding and £2,395,402 is ringfenced for Multiply activity to support adult numeracy activities for individuals aged 19+.

Following agreement by the eight local authorities within the Glasgow City Region (GCR), a single Investment Plan based on the investment priorities and intervention identified by the member authorities was submitted to the UK Government for the £73.9M allocated to GCR.

The Investment Plan has now been approved and provides information on a range of interventions based on local priorities, challenges and opportunities, and indicative spend and outputs/outcomes to be selected against them from the council’s funding allocations.

Projects will be developed that provide support and funding for a range of local businesses, including social enterprises as well as those that support, for example, active travel initiatives at key locations throughout North Lanarkshire. There will be funding for training and employability programmes to help people into employment and to improve skills in key sectors of our local economy, based on the priorities set out in our Workforce for the Future Strategy.

A targeted element of the Shared Prosperity Fund will also seek to improve numeracy skills which will be delivered through the Multiply numeracy skills programme aimed at helping individuals with budgeting and managing their money.

The funding will be released over three years from 2022-2025 and next stages will be to finalise projects which will be delivered in-house, commissioned by the council or through grants and challenge funds to enable third-sector organisations, businesses and local groups to bid for funding. 

The council has been engaging with a range of stakeholders to discuss priority interventions and will continue to engage as activities within the interventions are developed.

About the UK Shared Prosperity Fund

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus

More information can be found at the UK Shared Prosperity Fund webpage.

Find out more by reading the joint Glasgow City Region investment plan below or email UKSharedProsperityFund@northlan.gov.uk.

UK Shared Prosperity Fund - Investment Plan 2022

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Levelling Up

Page last updated:
23 Dec 2022

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